 Can i still rent an apartment with my husband if i have good credit and he has bad? |
| I almost make enough money to apply for a rental on my own, but he makes twice as much as i do, but has the bad credit. do you think that the rental units will let us get a place?... |
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 Is it unethical or hypocritical for a childless couple to buy a house in a good school district? |
| In populated areas, housing prices are influenced primarily by location (of course), but the school district can make a big difference too. Properties in good school districts generally sell faster ... |
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 Can anyone help me with a question about renting a property? |
| I have lived in my flat since Aug 2006 and have paid the same rent since then. I just received a letter from my landlord to say they are putting my rent up to be more in line with the current prices ... |
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 FREE PROPERTIES... how interesting is that? |
I recently wrote a book acquiring real estate for nothing... free... i am wondering how interested serious people will actualy be upon seeing the advert 'free property'...
from ... |
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 Need help with mortgage information? |
| This is the first time buying a house. I was wondering do different lenders have different payment set ups, or do they all go by the same "rules" For instance, i got a quote on a house its 8... |
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 How often should landlord replace carpet? |
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 I want to buy a house? |
I want to buy a house. I have about 2o grand saved up and I have no idea how to go about it. Im in the guard so I think I have a va loan but I dont have great credit either. lol
Any input ... |
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 Why are homes in Detroit only 22,000 dollars? |
| 3 Bedroom homes go for cheap. What is wrong?... |
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 1st time home buyer, with poor credit.? |
| I am buying a home from my parents their balance is 200k or less. The house has been appraised before around 1.5yr ago, and it valued at 400k. My FICO score is 580. My yearly income is 45k. I dont ... |
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 Is it possible to refinance a home without an appraisal? |
| I owe less than 50% of actual value and just hate paying 3-500.00 for an appraisal.... |
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 House deposit back? |
| If i signed a contract and i payed the deposit to rent a house,if i change my mind,can i get the mney back?The house does not fit my needs.I am supposed to move in at the end of the month,but i ... |
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 Anyone live in North Carolina? |
| I'm looking to move down there and I wanted to know what are the best areas or counties to find a job and what are the absolute abandoned places to live. I'm moving from Washington D.C. and ... |
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 I've been approved for a home loan, we're first time buyers with fair credit, the lender approved us at 10.7 |
| % interest rates (wow) he said that after a year we can refinance our house and get lower interest rates. It's my first time, So I don't know much about it. What are the chances that ... |
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JAG | I have two houses, one about to go foreclosure? |
I have two houses and im about to lose one because i cant pay it, will the bank add the balance to the one im currently paying? or what will happen? i know i need to get in touch with the bank, but wanted to get some input here, please help :(. |
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glenn
|
If the two mortgages are somehow tied together I guess they could add one to the other but I have never heard of that.
In Texas the norm is they file a lien on you for the shortfall after foreclosure. That shortfall includes huge fees for legal issues and late charges. It will save you thousands of dollars if you contact them and ask them to help you sell on a "compromise sale" or as some people call it a "short sale". If you can't do that for some reason then explore signing the house back to them directly so that you at least avoid the expense of a foreclosure.
Other states may have far different laws and you should talk to a lawyer to find out what would be best for you. |
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Lisa
 |
why don't you rent it and then foreclose it the foreclosure takes 8-11 months at lease you can collect rent with out paying any mortgage.you are not alone there are so many people that have more. |
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teran_realtor
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If your mortgage is at all normal, they cannot add the balance to the other house. Get in touch with a local Realtor who knows about short sales - maybe you can sell the house instead of it getting taken in foreclosure. Banks don't really want to own houses. |
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Expert Realtor
|
That's a really good question....there is a possibility if the foreclosure doesn't pay off the 1st foreclosure that they can petition the court to force the sale of your other home.
I would seriously doubt that the bank would be forced to take a loss when someone is sitting on money. |
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AnOrdinaryGuy
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If the same bank has mortgages on both houses, it MIGHT be able to add the deficit on one house to the balance due on the other. However, to do this without taking you to court first, the agreement on the other house (the non-foreclosure house) would have to have a "Cross-Collateral" clause, saying the bank can use the house as collateral for all debts you owe the bank. So, you have to read the terms of your loan and your mortgage. I rather doubt they did this, but you never know. But it has to be in writing somewhere. |
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CHARITY G
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It depends on how you secured the financing . . . If you financed separately you'll only lose the one with delinquent payments , , , If you financed jointly you could lose both. However, banks are more than willing to negotiate, so don't throw in the towel yet. You can either ask for a better rate or loan or ask for an additional 90 days to sell the house at a discounted price. Most banks do not want to foreclose and will be more than willing to work with you as long as you are reasonable. They lose money if they foreclose . .. |
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raven
 |
The bank will not add the balance to your other loan. Do not file bankruptcy! this will only screw up your credit and delay the foreclosure! You can deal with the bank on your own you do not need an attorney. In some cases the bank will put your past due payments on the back end of your loan to bring you current, but only if you can prove your back on your feet again and the reason you defaulted is no longer a factor. Ask if the bank will take interest only payments until you get back on your feet. Ask the bank to give you time to sell the property. if they will do not put the property on the market for what it is worth,but rather what you owe the bank plus expenses. it will sell quicker and you save your credit. And my last bit of advice if all fails and your home goes to foreclosure go to the sale and bid on the property to get the price up close to what you owe because you are still responsible for the balance of the loan. example if you owe 100,000 dollars and the property is purchased for 80,000 you still owe 20,000. and they will lien your other property to get it. If you are high bidder all liens against the property will be wiped out, except property TAXES. Good luck with the bank |
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stephen t
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It is important to realize that when you borrow money that involves a mortgage that the mortgage is not the loan. The document you signed that is an agreement to borrow and repay the money is called the note. If you go to foreclosure but the house does not sell for the amount owed, the lender can still collect on the note against you. They cannot just add it to the other house. They would have to get a judgment and put a lien on the house, make sure you have a homestead on the house you want to protect.. In rare situations people give blanket mortgages that cover more than one piece of real estate, in that case yes they could go after the other house easier. There are numerous ways to deal with your situation better than letting it go to foreclosure: work-out plan, short sale, deed in lieu, chapter 13 bankruptcy. |
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me
 |
if the house sell for more than you owe you will get the difference.
if the house sell for less than you owe it will depend on whether you are personally liable for the morgage. odds are you are. then the bank will try and collect the difference from you, eventually it will attach your other house and begin foreclosing on that one too. |
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